A limited partnership is a modification of a(n)________ form of ownership.
A)sole proprietorship
B)general partnership
C)corporation
D)S-corporation

Question

Quizplus · Accepted Answer

A limited partnership is a modification of a general partnership. In a general partnership, all partners are jointly and severally liable for the debts and obligations of the partnership. In a limited partnership, there are both general partners who have unlimited liability and limited partners who have limited liability and are not involved in the management of the partnership.

A Limited Partnership Is a Modification of A(n)________ Form of Ownership